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Incorporating the Rentier Sectors into a Financial Model

  • Michael Hudson
  • Dirk Bezemer
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    Current macroeconomics ignores the roles that rent, debt and the financial sector play in shaping our economy. We discuss the Classical view on rents and policy responses to the rentier sector in the 19th century. The finance, insurance & real estate sector is today's incarnation of the rentier sector. This paper shows how financial flows can be conceptually and statistically studied separately from (but interacting with) the real sector. We discuss finance's interaction with government and with the international economy.

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    File URL: http://wer.worldeconomicsassociation.org/papers/incorporating-the-rentier-sectors-into-a-financial-model/
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    File URL: http://wer.worldeconomicsassociation.org/files/WER-Vol1-No1-Article1-Hudson-and-Bezemer.pdf
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    Article provided by World Economics Association in its journal World Economic Review.

    Volume (Year): 2012 (2012)
    Issue (Month): 1 (September)
    Pages: 1

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    Handle: RePEc:wea:worler:v:2012:y:2012:i:1:p:1
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    1. Gennaro Zezza, 2009. "Fiscal Policy and the Economics of Financial Balances," Economics Working Paper Archive wp_569, Levy Economics Institute.
    2. Tovar, Camilo Ernesto, 2008. "DSGE Models and Central Banks," Economics Discussion Papers 2008-30, Kiel Institute for the World Economy.
    3. Steve Keen, 2009. "Household Debt: The Final Stage in an Artificially Extended Ponzi Bubble," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 42(3), pages 347-357.
    4. Das Dilip K., 2006. "Globalization in the World of Finance: An Analytical History," Global Economy Journal, De Gruyter, vol. 6(1), pages 1-25, February.
    5. Engelbert Stockhammer, 2000. "Financialization and the Slowdown of Accumulation," Working Papers geewp14, Vienna University of Economics and Business Research Group: Growth and Employment in Europe: Sustainability and Competitiveness.
    6. Maurice Obstfeld, 2009. "International Finance and Growth in Developing Countries: What Have We Learned?," IMF Staff Papers, Palgrave Macmillan, vol. 56(1), pages 63-111, April.
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